FinanceEssay Preview: FinanceReport this essaysector wise industry analysisThere are two major features, which have very significantly contributed to the development of this sector. One was the setting up of the Technology Mission on Oilseeds in 1986. This gave a thrust to Governments efforts for augmenting the production of oilseeds. This is evident by the very impressive increase in the production of oilseeds from about 11.3 million tonnes in 1986-87 to 24.8 million tonnes in 1998-99. There was some setback in 1999-2000 because of the un-seasonal rain followed by inclement weather. The production of oilseeds declined to 20.7 million tonnes in 1999-2000. However, the oilseeds production went up to 27.98 million tones in 2005-06 and was 24.29 million tonnes during 2006-07 oil year. As per the 3rd advance estimate by Ministry of Agriculture dated 22.4.08 the production of nine major oilseeds is estimated to be about 28.21 million tonnes during 2007-08. The other dominant feature which has had significant impact on the present status of edible oilseeds/oil industry has been the programme of liberalisation under which the Governments economic policy allowing greater freedom to the open market and encourages healthy competition and self regulation rather than protection and control. Controls and regulations have been relaxed resulting in a highly competitive market dominated by both domesti
Indian edible oil industry to grow at 6% till 2015 – Rabo India reportAnnouncement / Corporate August 06, 2010, 16:40 ISTThe Indian edible oil industry is expected to grow at a rate of 6 percent annually over the next five years, said Rabo India in its latest research report.
India relies heavily on imports to meet over 50 percent of domestic edible oil requirements. Through the years, Indias domestic production of oilseeds has not grown in line with edible oil demand. Lower levels of oilseed production have resulted in low capacity utilisation.
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Gandhi aims to set world record in global market cap, exports to world in 2017The government aims to introduce the nation’s first national market by the end of 2017 and also its second next one by 2020 when the new Rs 1 ,000-crore budget for research and development is rolled out to the nation.The Ministry of National Development has been working on the nationalization of foodstuffs in the coming decade and has developed a new food lab which has come into focus.The Food Technology Initiative, founded by Gopal Goyal, has started building a research laboratory at the Centre, along with other scientific centres in the state, to test new agricultural technologies to develop food products.India has around 3,000 km of roads, railways and highways.
Read:India to host first International cycle race in four years
India is expected to set out to become a major player in cycling on the international cycling circuit in 2018.
“We will have an unprecedented participation to drive the growth of the business sector by a significant amount. For several years now we have been a major centre in terms of funding for cycling,” said Goyal.
India won the European race of the Tour de France in 2015, set the record with 26 minutes and one second to get onto this stage. Last year, India was awarded a spot at the Rio Olympics for the first time in four decades.
First Published: May 15, 2017 09:29 IST